Refined gold volumes are anticipated to total 283.5 tonnes in 2023-24, down from 293.0 tonnes in 2018-19. Gold and Other Non-Ferrous Metal Processing in Australia Ten LNG facilities are now operational, including the Prelude and Ichthys projects, which shipped their first cargoes in 2018-19. The wave of project development that occurred across the industry over the past decade has now concluded. LNG revenue is expected to rise at an annualised 20.7% over the five years through 2022-23, to $90.3 billion. Australian liquefied natural gas (LNG) exports have increased from 20.0 million tonnes in 2010-11 to 80.9 million tonnes in 2022-23. Liquefied natural gas (LNG) production has rapidly expanded, as project development has increased the scale and production capacity of the industry. Liquefied Natural Gas Production in Australia Global trade in LNG has expanded with growing demand for LNG in Asian markets and weakness in the. Output has expanded over the past decade, while world oil and natural gas prices have displayed significant volatility.Īustralia's natural gas production, which makes up most of the industry has soared over the past decade as new gas fields have been developed to feed Australia's liquefied natural gas (LNG) facilities. Changes in oil and gas prices, exchange rate movements, annual production volumes, and domestic and export demand for oil and gas all influence performance. Oil and gas producers have experienced significant revenue volatility. Black coal mining accounts for most activity, with some brown coal used domestically for electricity generation in Victoria.Ĭoal mining revenue is expected to grow at an annualised 14.6% over. Imports are negligible, as local production is higher than domestic demand for coal. As a result, exports account for a large share of coal mining revenue. Domestic reserves exceed domestic demand, are high grade and economical to access. Although coal deposits are found all over the world, Australia is one of the world's lowest cost producers and a major coal exporter. Learn MoreĬoal is a key input in steelmaking and energy generation. Over the past decade, strong economic growth in China has. Iron ore prices are projected to fall in 2022-23, prompting iron ore revenue to drop an estimated 16.2% over the year. Strong demand from China and disruptions to iron ore producers in Brazil prior to, and during the COVID-19 pandemic, sent iron ore prices soaring. Iron ore revenue is expected to increase at an annualised 8.1% over the five years through 2022-23, to total an estimated $124.1 billion. Iron ore miners have benefited from major increases in iron ore prices, and modest growth in production volumes over the past five years. Water Supply Sewerage, Waste Management and Remediation Activities.Specialist Engineering, Infrastructure & Contractors.Professional, Scientific & Technical Services.Agriculture, Forestry, Fishing & Hunting.Administration & Business Support Services.
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